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engångskatt - One time tax

How much do you really pay?

IndianInStockholm
post 25.Aug.2017, 08:46 AM
Post #1
Joined: 12.Apr.2015

I see that for each time I'm paid out a bonus or some retro-pay, the company levies tax at a special rate as per a separate table. In some cases this tax is as high as 50-60%.

I am under the assumption that although it's taxed at those rates during payout (monthly), in the end it's all re-calculated during the final tax return filing at the end of the year and you are taxed based on the total income for the year and the tax deducted at source (which would include the engångskatt paid out) is adjusted to come up with your total tax liability/refund!

Is this how it works? Is my assumption correct?
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BhuBhuKaZoo
post 25.Aug.2017, 01:19 PM
Post #2
Location: Uppsala
Joined: 29.Jun.2017

QUOTE (IndianInStockholm @ 25.Aug.2017, 09:46 AM) *
I see that for each time I'm paid out a bonus or some retro-pay, the company levies tax at a special rate as per a separate table. In some cases this tax is as high as 50- ... (show full quote)


You are indeed correct. At the end of the year, Skatteverket will look at your total income and calculate the tax you have paid and deem whether you have paid the correct (or incorrect) amount of tax for that year.

Depending on your employer, you should get your bonus separate from your pay check which results in you paying tax on the sum paid out separate from your montly salary - in other words, you should get taxed less on your bonus.

One thing to be particularly aware of is that you pay tax for where you live...not work. So for example - if you work in Stockholm, but live in Uppsala - you pay the tax rate for Uppsala. This is a slight difference between tax in the UK (which is a general level for the whole country) and Sweden where it is city/region specific.
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yet another brit
post 25.Aug.2017, 04:17 PM
Post #3
Joined: 5.Jan.2013

QUOTE (IndianInStockholm @ 25.Aug.2017, 08:46 AM) *
Is this how it works? Is my assumption correct?


That is correct. You can (if you like) work out what the precise tax ought to be, and request the employer to take that instead. I prefer to suffer the immediate blow, knowing that some of it will in fact come back in the fullness of time. Think of it as enforced saving :-)
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ChocOwl
post 25.Aug.2017, 05:19 PM
Post #4
Joined: 17.Jan.2011

On a lighter note... just fYI... "engångskatt" would mean "single use cat" or perhaps "disposable cat". You need an extra s: "engångsskatt".
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axiom
post 26.Aug.2017, 10:36 AM
Post #5
Location: Stockholm
Joined: 24.May.2011

QUOTE (yet another brit @ 25.Aug.2017, 03:17 PM) *
That is correct. You can (if you like) work out what the precise tax ought to be, and request the employer to take that instead. I prefer to suffer the immediate blow, knowing ... (show full quote)


Pretty much what mine does, therefore no surprises later.
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IndianInStockholm
post 4.Sep.2017, 02:30 PM
Post #6
Joined: 12.Apr.2015

QUOTE (ChocOwl @ 25.Aug.2017, 05:19 PM) *
On a lighter note... just fYI... "engångskatt" would mean "single use cat" or perhaps "disposable cat". You need an extra s: "engångsskatt".


:} I feel like a disposable cat when I pay out the high taxes here! But in the end I guess I wouldn't complain. At-least you get much more for what you pay in than compared to some other countries.

Point taken though. I'll pay attention to the 's'es'.
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